Azerbaijan: external debt over $7 billion

Azerbaijan’s external debt stood at $7,172.6 million (12,208.5 million manats) as of July 1, which accounts for 18.9% of the country’s GDP, said Azerbaijani Ministry of Finance. The statistics on borrowings include direct liabilities of the Azerbaijani government and contingent liabilities for loans attracted under state guarantee. Azerbaijan’s external debt consists mainly of funds raised…

Uzbekistan: former deputy PM named UzAir head

Uzbekistan’s former Deputy Prime Minister Ulugbek Rozukulov has been appointed the director general of the country’s national airline Uzbekistan Airways, a source in the airline’s management reported on August 24. Uzbekistan Airways was earlier headed by Valeriy Tyan. Uzbekistan Airways is a flag carrier airline in Uzbekistan and is wholly owned by the state. It…

Turkmenistan to cultivate diverse gas markets

Turkmenistan-China gas relationship may be viewed as one country’s over-dependence on another, Sean Roberts, an expert on Central Asia and Associate Professor of the Practice of International Affairs, said commenting on the construction of Tajik section of the Turkmenistan-Uzbekistan-Tajikistan-Kyrgyzstan-China gas pipeline launched last month. “On one hand, it is easy to understand why Central Asia…

Latvia: pressure on cost increase to be enormous

Pressure on the increase of costs in the next several years will be enormous, and there are worries about the government’s ability to withstand that, said Fiscal Discipline Council’s member Andzs Ubelis. According to him, the government’s recently approved outlook on economic growth this year of 3.7% is realistic and satisfactory. Latvia’s economy is expected…

Latvia: situation with transit industry tragic

Baltic Association – Transport and Logisics President Inga Antane describes the situation with Latvia’s transit industry as tragic. Cargo volume decline has been continuing since 2012. Antane also mentions that, looking at the recent past, 2016 was one of the worst in Latvia’s transit history. It should be added that from April onward there was…

Ukraine: 755 km of roads repaired in 2017

In 2017, 755 km of automobile roads have been repaired in Ukraine, the Infrastructure Ministry reports. “As of August 18, medium repairs of 756 km of automobile roads have been carried out within current financing, according to the data provided by Ukravtodor (the State Agency of Automobile Roads of Ukraine),” reads the report. The ministry…

Turkmenistan to plant winter wheat throughout 760 thousand ha

Turkmenistan will plant winter wheat for the harvest-2018 throughout the areas of 760 thousand ha.

Turkmen agrarians started the planting campaign of winter wheat on August 23.

The forecast of winter wheat production in 2018 totals 1.6 million tons. (APK-Inform/Business World Magazine)

Belarus: inflation expected below 7% in 2017

Belarus may close the year 2017 with the inflation below 7%, Belarusian Prime Minister Andrei Kobyakov said after the government conference chaired by Belarus President Alexander Lukashenko. “The inflation keeps reducing and the tendency is strong. We are slightly behind the Russian Federation in terms of the seven-month inflation rate, but we are doing better…

Latvia: businessmen to pay larger wages

The current market situation shows that Latvia should speed up its education reform and think about attracting additional human resources from other countries, said Latvian Finance Minister Dana Reizniece-Ozola. “We have a number of problems. We see unemployment is in decline, dropping to 7.2% in the past three years, whereas the number of employed people…

Uzbekistan: GMU suspending car production

GM Uzbekistan has announced about suspension of car production due to maintenance work. The car manufacturer GM Uzbekistan located in Asaka, suspends production from August 22 till September 10 due to the planned maintenance work, said the company’s press service. It is planned to carry out preventive inspection and maintenance of main and auxiliary processing…